Gold prices held steady on Tuesday (August 5th), holding near the two-week high reached in the previous session, as weaker-than-expected US employment data raised expectations for a September interest rate cut and pressured the US dollar and government bond yields. Spot gold was trading at $3,369.25 per ounce as of 06:29 GMT. Bullion hit its highest level since July 24th on Monday. US gold futures were unchanged at $3,423.20. Source: Newsmaker.id
Gold rise around 1.8% on macroeconomic concerns. Economic uncertainty, the threat of intensified trade wars under a Trump administration and the potential escalation of conflicts in Ukraine and the Middle East are likely boosting gold's appeal as a safe-haven. There is growing scepticism over Trump's claims he could end the wars quickly, and escalating tensions further complicates the scene, gold may face short-term pressure. The acceleration of inflation in the U.S. after Trump's victory and cautious statements from the Federal Reserve have diminished expectations of an interest rate cut...
Silver prices inched higher on Monday, recovering from last week's steep sell-off as the U.S. dollar's rally paused. The market remains range-bound, with traders analyzing critical levels and upcoming macroeconomic developments to gauge the next move. Silver's significant losses last week were largely tied to a stronger dollar, fueled by reduced expectations for aggressive Federal Reserve rate cuts. The dollar index gained 1.6% but has now stabilized below its one-year high. This pause has eased some of the pressure on silver prices, as a weaker dollar makes the metal more accessible to...
The price of gold shifted to the $ 2600 area tonight, after having declined steep to the level of $ 2523 after the US presidential election.Goldman Sachs Group Inc. Reaffirming the estimated price will rise to $ 3,000 per ounce at the end of next year, with analysts advising investors to "find gold." The bank includes speculation in gold bars among its top commodity choices for 2025 related to the trimming of the Fed's interest rates, the central bank continues to buy precious metals and Trump holds the position of the President. Source: Newsmaker.id
Silver prices moved to the $30.7 area this afternoon, after dropping to the $29 level after the US Presidential election. Technical indicators on the daily chart are holding in the negative territory and are still far from the oversold zone. Hence, any further upward movement is likely to face stiff resistance and remain capped near the $31.00 round figure. Concerns about escalating geopolitical tensions, along with a weaker US Dollar (USD), turned out to be the key factors that acted as a boost for the safe-haven precious metal. However, expectations of a less dovish Federal Reserve...
Gold prices are still stable around $2586 per troy ounce in the European session on Monday. Until now, gold has only been able to touch its highest area of $2590. Concerns about increasing geopolitical tensions, along with the weakening US Dollar (USD), turned out to be the main factors that acted as a driver for the precious metal which became a safe haven. However, expectations of a less dovish Federal Reserve (Fed) limited the increase in the yellow metal which did not produce unbalanced results. The price of Gold when this news was released was +1.00% and was at the level of $2586...